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distributable net income
(Tax Law)
Distributable net income is a tax concept and is commonly referred to as "DNI." It limits and characterizes income that will be taxed to the beneficiaries, if distributed or required to be distributed, rather than to the trust. It is the taxable income of the trust modified by generally excluding dividend distributions, personal exemptions, capital gains and losses, extraordinary dividends and taxable stock dividends, and including tax-exempt interest. IRC � 643(a).
Source : Internal Revenue Service - United States Department of Treasury
Language : English